With the price of sports stadiums today rising over a Billion dollars in cost the question must be asked, does public subsidization of sports stadiums create enough local economic growth to justify these massive costs? Seemingly every year, a different city is asking its taxpayers to contribute hundreds of millions of dollars to support the construction of a new stadium whether they like sports or not. The justification behind the public financing of stadiums is based on the idea that through the construction of these new stadiums new jobs will be created and economic growth will continue from the new infrastructure in the future. Researching the costs and benefits for these facilities will hopefully yield a clear answer to the question posed. In this paper, I will explore how these subsidies pay off or even harm the taxpayers who contribute their money to these projects.This can be accomplished by looking at things like net gain to a city’s economy in terms of new jobs as well as incremental tax revenues.
The previous literature seems to suggest that these subsidizations are not proving to be effective in bolstering the local economy in either the long or short run. Many of these stadiums are only turning a fraction of a profit relative to the original cost of these stadiums. It will be interesting to see what cities specifically benefit the most and the least from new stadiums and how significant market size is to a stadiums success.
Note: The How to write a paper file is simply a guide. The assignment is to write a research paper. I only need 9 pages worth as well as a bibliography and references. You should also include in text citations. Fell free to use other scholarly papers, but I have already provided some for use.
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